GAMMA Investing LLC Takes Position in MetLife, Inc. (NYSE:MET)

GAMMA Investing LLC acquired a new stake in MetLife, Inc. (NYSE:MET) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,395 shares of the financial services provider’s stock, valued at approximately $235,000.

Other hedge funds also recently made changes to their positions in the company. Criterion Capital Advisors LLC acquired a new stake in MetLife during the 4th quarter worth approximately $26,000. Quintet Private Bank Europe S.A. bought a new position in MetLife during the 3rd quarter worth $28,000. Planned Solutions Inc. bought a new position in MetLife during the 4th quarter worth $28,000. Tennessee Valley Asset Management Partners bought a new position in MetLife during the 4th quarter worth $34,000. Finally, Headlands Technologies LLC bought a new position in MetLife during the 3rd quarter worth $36,000. 89.81% of the stock is owned by institutional investors and hedge funds.

MetLife Stock Down 1.1 %

Shares of NYSE:MET opened at $71.90 on Friday. The company has a market capitalization of $51.99 billion, a price-to-earnings ratio of 39.29, a P/E/G ratio of 0.55 and a beta of 1.04. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.16 and a quick ratio of 0.16. The business’s 50-day moving average is $71.41 and its 200-day moving average is $67.09. MetLife, Inc. has a 1 year low of $48.95 and a 1 year high of $74.68.

MetLife (NYSE:MET) last issued its earnings results on Wednesday, January 31st. The financial services provider reported $1.93 EPS for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.02). MetLife had a net margin of 2.36% and a return on equity of 19.48%. The firm had revenue of $18.72 billion during the quarter, compared to the consensus estimate of $18.07 billion. Equities research analysts predict that MetLife, Inc. will post 8.71 earnings per share for the current year.

MetLife Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Tuesday, May 7th will be given a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a yield of 3.03%. This is a positive change from MetLife’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, May 6th. MetLife’s payout ratio is presently 113.66%.

Analysts Set New Price Targets

A number of research firms have commented on MET. Wells Fargo & Company raised their price objective on MetLife from $83.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. UBS Group decreased their price target on MetLife from $87.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, February 5th. Morgan Stanley lifted their price target on MetLife from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Piper Sandler lifted their price target on MetLife from $74.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Finally, The Goldman Sachs Group upgraded MetLife from a “neutral” rating to a “buy” rating and lifted their price target for the company from $70.00 to $80.00 in a research note on Monday, January 8th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, MetLife presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.23.

Insider Activity at MetLife

In related news, insider Ramy Tadros sold 4,026 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $71.90, for a total value of $289,469.40. Following the completion of the sale, the insider now directly owns 146,981 shares of the company’s stock, valued at approximately $10,567,933.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other MetLife news, insider Ramy Tadros sold 4,026 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $71.90, for a total transaction of $289,469.40. Following the completion of the sale, the insider now directly owns 146,981 shares of the company’s stock, valued at approximately $10,567,933.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Bill Pappas sold 27,000 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $72.27, for a total value of $1,951,290.00. Following the sale, the executive vice president now directly owns 57,768 shares of the company’s stock, valued at $4,174,893.36. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by corporate insiders.

MetLife Company Profile

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through six segments: Retirement and Income Solutions; Group Benefits; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short-and long-term disability, individual disability, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.